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REGISTERED NUMBER: 12945679 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

GANDERBOND PROPERTIES LTD

GANDERBOND PROPERTIES LTD (REGISTERED NUMBER: 12945679)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GANDERBOND PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Miss Dora Ktorides
Mr Andrew Ktorides
Mr Andreas Poyiatgi





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 12945679 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

GANDERBOND PROPERTIES LTD (REGISTERED NUMBER: 12945679)

ABRIDGED BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,187 -
Investment property 6 2,333,695 1,902,001
2,335,882 1,902,001

CURRENT ASSETS
Debtors - 4,350
Cash at bank and in hand 117,751 15,599
117,751 19,949
CREDITORS
Amounts falling due within one year 126,466 39,004
NET CURRENT LIABILITIES (8,715 ) (19,055 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,327,167

1,882,946

CREDITORS
Amounts falling due after more than one
year

1,139,096

711,398
NET ASSETS 1,188,071 1,171,548

CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Share premium 9 1,149,405 1,149,405
Retained earnings 9 36,666 20,143
SHAREHOLDERS' FUNDS 1,188,071 1,171,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GANDERBOND PROPERTIES LTD (REGISTERED NUMBER: 12945679)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:




Miss Dora Ktorides - Director



Mr Andreas Poyiatgi - Director


GANDERBOND PROPERTIES LTD (REGISTERED NUMBER: 12945679)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Ganderbond Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents rents receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The freehold property is held for long-term investments. Investment property is initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment property whose fair value can be measured reliably are carried at fair value.

The surplus or deficit is recognised in the income statement accumulated in the non-distributable reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the income statement for the period. The company engages independent valuers to assist the directors in determining fair value.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
The company only enters basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks, and other third parties.

Basic financial instruments are recognized at amortized cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognized in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognized in profit or loss.


GANDERBOND PROPERTIES LTD (REGISTERED NUMBER: 12945679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 2,500
At 31 March 2023 2,500
DEPRECIATION
Charge for year 313
At 31 March 2023 313
NET BOOK VALUE
At 31 March 2023 2,187

GANDERBOND PROPERTIES LTD (REGISTERED NUMBER: 12945679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,902,001
Additions 431,694
At 31 March 2023 2,333,695
NET BOOK VALUE
At 31 March 2023 2,333,695
At 31 March 2022 1,902,001

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,142,586 661,488

The bank loans are secured by first legal charges over the properties of the company and a guarantee from the directors in favour of Lloyds Bank Plc.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,000 Ordinary £1 2,000 2,000

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2022 20,143 1,149,405 1,169,548
Profit for the year 16,523 16,523
At 31 March 2023 36,666 1,149,405 1,186,071

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors who between them own 100% of the issued share capital.
In June 2023 the company became a wholly-owned subsidiary of Ganderbond Estates ltd.